Strata Management Licensing Practice Exam · Question
What is the minimum period a strata corporation in Vancouver must retain bank statements and cancelled cheques?
Under Section 3(1) of the Strata Property Regulation, a strata corporation must retain bank statements and cancelled cheques for a minimum of two years.
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Question: What is the minimum period a strata corporation in Vancouver must retain bank statements and cancelled cheques?
Answer options: ✅ Two years
- Seven years
- Ten years
- Perpetually
Correct answer: Two years
Explanation: Under Section 3(1) of the Strata Property Regulation, a strata corporation must retain bank statements and cancelled cheques for a minimum of two years.
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